What ever happened to an old-fashioned, straight-forward business plan? Buy the land, get a loan, build a hotel, pay taxes, pay down a loan, make a profit. I don't understand why it has been allowed to get this convoluted! Wealthy speculating business people often don't believe in high taxes or entitlement programs, but they constantly have their own hand out for subsidies and tax credits.

COMMENT 356109P

2012-12-20 03:20 PM

Wow shame, I thought the County had finally exercised common sense with this megalomaniac billionaire developer.....but I guess not.

COMMENT 356115

2012-12-20 03:32 PM

104P - Preach brother!

COMMENT 356127

2012-12-20 03:47 PM

I would aslo like to start negotiations with the county regarding my property tax...for some reason they are not taking me seriosuly. Maybe I should ask Caruso how he does it.

COMMENT 356141

2012-12-20 04:17 PM

104p, it's hard to do in this economy. Harder to do in SB county. Sadly, there's avarice and outright hostility on both sides, permitting and development both.

This needs to be done, and yesterday.

COMMENT 356150P

2012-12-20 04:44 PM

141 (un-p) give me a break- Caruso has been given EVERY break, from initial application, approvals, fast tracked, corners cut, staff who wouldnt cut corners transferred- and this latest scheme and no county in this state or country has EVER provided the kind of kickback he is asking for. Never. None. So he (or you) can try to spin it as something he is entitled to- but it clearly is not.

COMMENT 356156P

2012-12-20 04:53 PM

Good grief. There was an article in the LA Times Business Section last week saying Caruso was snapping up Pacific Palisades business district buildings in order to develop them. The guy has tons of money, and mortgages have never been cheaper. Don't ask the taxpayers to subsidize this rich guy.

GREG

2012-12-21 07:06 AM

The El Encanto - did it ask for or receive various concessions? Although it's taken a while, it seems to be looking very nice for an upcoming "unveiling."

COMMENT 356324P

2012-12-21 08:33 AM

No multi-million dollar kickback for El Encanto...or San Ysidro Ranch, or Bacara, or frankly for any other hotel in SB County. Because government should not be in the business of sweetening the pot with taxpayer funds for private billionaire developers

COMMENT 356377

2012-12-21 10:00 AM

Dangit I need to have money so people will try really hard to save me money, so I get more money, to do nothing with.

If they had a "small business incentive program" I'd be all for it. This guy doesn't need our hand out

Let him bulldoze it, then make it an open space and park and tell him to go back to la and build

I bet he builds/ opens/ then sells it off before the 15yr "agreement" even happens

COMMENT 356414

2012-12-21 11:26 AM

These are not "negotiations" this is a form of extortion by blight! If the County and the community want to eliminate this long standing eyesore then remove all of the restrictions and conditions previously imposed and let the owners build whatever they want and give them a big tax break to boot. This is the latest development strategy invented by developers in this area, a la Carrillo (Canary) Hotel, Entrada de Santa Barbara, etc. etc.